Current view of 1 Madison Avenue via Flickr; Rendering of 1 Madison via SL Green Realty
The Nomad office tower that neighbors the Met Life Tower is getting a major makeover, SL Green announced Monday. The 13-story building at One Madison Avenue will undergo a redevelopment, including an addition designed by Kohn Pedersen Fox and a modernization of the building’s existing podium. The real estate company said it will reduce the building to its ninth floor and create 18 additional column-free floors above. A rendering released on Monday shows off the planned glassy addition, as well as wraparound and rooftop outdoor terraces that will measure over one acre.
Current view of 1 Madison Avenue via SL Green Realty
SL Green, who described the project as one of the most ambitious adaptive-reuse in the area, decided to tap the same design and development team currently working on One Vanderbilt, the 1,401-foot-tall office tower rising next to Grand Central.
“SL Green has been a visionary developer to work with at One Vanderbilt, so naturally we jumped at the chance to collaborate on the redesign of One Madison — a dramatic transformation that will infuse a timeless New York City property with a dynamic, inspiring workplace for the 21st century,” Doug Hocking, design principal of KPF, said in a statement.
One Madison will be redeveloped with 218,000 square feet of available development rights, allowing for an increase of total rentable square footage at the building to almost 1.5 million square feet. In addition to constructing 18 new floors, the redevelopment will also focus on interior and exterior renovation to the podium, upgrading the lobby, adding retail space, and revitalizing its multi-purpose auditorium.
The panoramic terraces will be featured on the 10th and 11th floors, overlooking Madison Square Park and providing a transition from the masonry base to the glassy new tower addition. Construction is expected to begin in 2020 or 2021, after the lease of current tenant, Credit Suisse, expires.
SL Green announced on Monday a slew of other real estate news. The landlord reached 52 percent leased at One Vanderbilt, purchased a controlling interest in 460 West 34th Street for its first Hudson Yards investment, reached a deal with TD Securities for an additional 119,000 square feet at One Vanderbilt and another 52,450 square feet at 125 Park Avenue, and recapitalized at 2 Herald Square, selling 49 percent of its partnership interest to an Israeli institutional investor.
- PHOTOS: One Vanderbilt reveals terra cotta facade and insane views
- Designing One Vanderbilt: The architects of KPF discuss the incredible 1401-foot undertaking
- REVEALED: SL Green to Build Another Times Square Spectacular at 719 Seventh Avenue
Neighborhoods : Nomad